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MINI Cooper Prices Paid and Buying Experience

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Comments

  • jaxs1jaxs1 Posts: 2,697
    Problems were probably fixed over the 4 years, but the previous owner could have also been stuck in a 4 year lease or even a 3 year lease that started very late.
  • course411course411 Posts: 4
    Good point, though the original title had a loan/lien on it... doesn't that suggest ownership? How are titles handled when it's a lease? (Doesn't the title remain with the dealership?)
  • jaxs1jaxs1 Posts: 2,697
    Most likely the car is fine and whatever early problems it had were already fixed under warranty.
    Only way to be sure is to take it to an independent mechanic and body shop and have it checked out.
    The only way to do that without being stuck with the car would be to either have them let you do it before purchase or after purchase if they give you a money back guarantee for a few days and a couple hundred miles or so.
    Many dealers will also give you at least a full 7 to 30 day warranty on everything even if it is out of factory warranty so you can find out if it has "pre-existing" problems and have them take care of them.
  • trancqtrancq Posts: 3
    I'm about to place an order for a MC S 2007 with $25,250 MSRP. I received a couple of price quotes from dealers_all of which offer MSRP and complimentary floor mats and license plate frame. With tax,title, and fee_ OTD price would be $27508.

    Is this price quote about right for a MC S 2007? You guys know where I can get a better deal in SoCal?
    Thanks
  • ucsb805ucsb805 Posts: 8
    I'm also aggressively shopping around in SoCal and can't seem to find any dealership willing to go below MSRP. If you're willing to wait a month or so, there might be more wiggle room. With your OTD price, it's about 8.2% in TTL, which seems reasonable, but is probably the only place you'll be able to haggle at all.

    What dealership are you ordering with? How has it been, and what's the ETA of a car special ordered? I'm probably drivin to Bob Smith, Universal City, & Long Beach next Thursday to make my purchase or place an order...Thanks!
  • blueguydotcomblueguydotcom Posts: 6,257
    In March I paid MSRP for an 07 Cooper S. Nobody would deal. That said, MSRP sales seem to indicate resale is outstanding and odds are good I will only have this great little car until 09.
  • plektoplekto Posts: 3,707
    Thanks for the comments on buying vs. leasing, though I must lease it for tax reasons (I'm using this car for business).
    ***

    IIRC, it doesn't matter whether you lease or buy the car if it's a business expense. Both ways can get a percentage written off - and in the case of a purchased mini, even the basic deduction alone more than covers the depreciation.

    In effect, you pay nothing to own a mini. And at the end, 4 years later, you sell it and actually make a profit.

    Talk to your accountant/tax preparer about it - the numbers on a Mini as a business expense are really upside-down in your favor.
  • trancqtrancq Posts: 3
    I'm ordering mine through Irvine Mini. Longbeach Mini gave me the same price quote and seemed very helpful.
  • pjo1966pjo1966 Posts: 120
    I would save the trip to Universal City. All of their Minis are marked up above MSRP.
  • course411course411 Posts: 4
    So now I'm unsure just how good a deal I have on my hands. I posted the other day about a 2003 5-speed I'm looking at - 60k miles and priced at $12,900. Good set of options, and dealer will throw in iPod adapter and rubber mats.

    I initially wanted to jump on this b/c Kelley Blue Book prices it at (retail suggested value) $17,600 and Edmunds says $15,000 for dealer retail. If the dealer is to be believed, they just cut the price $2000 because it had been on the lot for 30 days and they want to move it. It is also priced well below other 2003s I have seen on Craigslist.

    But I just came across two listings for two 2004 Minis 100 miles away from me, both priced at $13,900: one is automatic transmission/21k miles, the other a 5-spd/28k miles, both have similar options as the one I am considering. At this late hour I couldn’t reach anyone to get more details, but it seems strange to me that cars with 30-40k fewer miles only cost $1000 more. What’s going on?

    Is mine as good a deal as it seems? I’m having a mechanic check the car out tomorrow morning, and then am prepared to fork over a cashier’s check. But, should I shop around more and/or try to bargain this one down a bit?
  • jaxs1jaxs1 Posts: 2,697
    Different people and dealers ask different prices and you have to negotiate your best deal.
    You can always show the others the asking price of the lowest one and they will likely at least match it unless theirs have alot more equipment or are in better condition.
  • course411course411 Posts: 4
    The other cars are more expensive than this one, but they are newer with many fewer miles. How do you put a dollar figure on # of miles? Is there a rule of thumb, like the federal use/depreciation allowance on business trips - what, 17.5 cents/mile or something?

    I am trying to avoid getting in a pure haggle over this, absent any actual criteria on which to argue for a lower price - because I think it's going ot be a tough argument.
  • plektoplekto Posts: 3,707
    The reason is that the market is falling off for the older generation models. The new ones seem to be close enough to the originals that the public is seeing it as the real thing(ie - mini v1.2 vs a totally new car)

    Of course, this means the newer ones are a good deal again - and likely to hold their value quite a bit - especially next year's model(2nd year of a production cycle and all)

    Of course, it means that a lot of people who couldn't afford a Mini can do so for cheap as well - kind of a win-win situation.
  • flyhiflyhi Posts: 5
    Came from the dealer today and got the following initial lease offer.
    MC S '07
    Premium package
    Cold weather package
    Convience package
    Laser blue

    Sales price 25.3K
    MF .00355
    Money down 5318K (3000 towards cap deduction)
    36 month
    residual 67%
    254.78/month

    I am looking to lease to keep my cash payments low. and I own my business so I want to take advantage of the tax savings of a lease.
    Is this a good lease deal ?
    What should watch out for ? What is negotiable besides the sales price ?

    And lastly with the high resale value of the mini would a better deal be to buy instead ?
  • kyfdx@Edmundskyfdx@Edmunds Posts: 25,898
    And lastly with the high resale value of the mini would a better deal be to buy instead ?

    That would be my advice..

    For a car in the $25K range, buying it may be better from a tax standpoint, than leasing.. Plus, that money factor equates to an 8.5% APR.. Pretty expensive financing.

    Moderator - Prices Paid, Lease Questions, SUVs

  • pharmd718pharmd718 Posts: 78
    I bought a 2007 mini cooper S from mini of the Hamptons for $22,500. The MSRP was $23,700. I went first to Hassel mini and they offered me the car at $300 below MSRP. I took that qoute to Hamptons and told them that if they gave me a better offer I would buy the car on the spot. I paid off the full amount in cash.

    Order was placed May 15th. Yesterday (6/7) the dealer called and said that they will have the car in 2-3 days (less then a month of waiting time).

    Last week I went with a friend to a Mini dealership in NJ. The salesperson said that there is "no way anyone can get a new mini below MSRP". He also told me friend that he had no choice but to buy the car at sticker and that some dealers as asking for more then sticker. I told the salesperson that its not true and took out my invoice. He looked very surprised and asked if he can make a copy and then went to talk to his boss. He came back 10 minutes later and offered the car for $1000 below invoice. :shades:
  • jaxs1jaxs1 Posts: 2,697
    Sounds strange. More likely, they would just match the other offer and not volunteer to go so much lower than the other quote.
  • blueguydotcomblueguydotcom Posts: 6,257
    Agreed. Cash is not attractive to dealerships and he didn't seem to get any add-ons. Plus it's not the end of the month. Maybe in the NE they have trouble moving Minis? If someone suggested 1k below MSRP in socal, the salespeople would call the paramedics/cops to pick up a 51-50.
  • nyccarguynyccarguy Stamford, CTPosts: 7,110
    Maybe you're right. I've only seen maybe a handful of the new MINIs here in NY since they were introduced. I see lots of the 1st gen.

    2001 Honda Prelude Type SH/ 2011 BMW 328xi / 2011 Honda Pilot EX-L w/ Navigation

  • pharmd718pharmd718 Posts: 78
    The car that I bought came as follows:
    pepper white mini cooper S
    6 speed stick shift
    DSC - $500
    LSD - $500
    Chrome line interior - $200
    Cream white color line - $200
    Multi function steering wheel - $350
    floor mats back and front - $85

    Total MSRP = $23,685
    Price paid = $22,500

    The Hamptoms looked like a ghost town when I went. It was in the middle of the week and the dealership looked very quite and empty. There was no one else at the dealership making a purchase and they had over 50 mini's on the lot.

    Both Hassel mini and the NJ mini dealership said that the most they were willing to take off the MSRP was $300. Seems like they all agreed on this number (except for mini of the Hamptons).

    I will pick up the car in 3 days (my next day off from work). :)
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